1H21: Strong Results, But Decidedly Bearish Guidance For 2H21 SCI reported a strong 1H21 with NPAT before exceptional items increasing by 69% yoy to S$252m and ahead of our estimates. However, management has guided for a weaker 2H21 due to maintenance shutdowns, higher fuel costs and market volatility, not to mention continued impacts from COVID-19. […]

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